For most ﬁrms, FRS 102 will be the primary accounting standard for future HMRC returns. FRS 102 will bring consistency with international accounting standards, which is why it is so similar to IFRS. As the new FRC taxonomies will soon become mandatory, it’s vital to start preparing for the new standards.

To help you get ready, we’ve created this short FRS 102 resource. It’ll help you prepare for the additional mandatory tagging and outline the differences between the old UK GAAP standards and FRS 102.